11,452 Shares in Avnet, Inc. $AVT Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of Avnet, Inc. (NASDAQ:AVT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,452 shares of the company’s stock, valued at approximately $706,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of Avnet during the 4th quarter worth $28,000. BOKF NA grew its position in shares of Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after acquiring an additional 536 shares during the period. Allworth Financial LP increased its stake in shares of Avnet by 199.1% in the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 466 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Avnet by 53.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock worth $35,000 after purchasing an additional 258 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Avnet by 62.0% in the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after purchasing an additional 326 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Stock Down 2.3%

Shares of AVT stock opened at $85.15 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05. Avnet, Inc. has a one year low of $44.25 and a one year high of $95.26. The company’s fifty day moving average price is $86.59 and its 200-day moving average price is $70.37. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 0.28 and a beta of 1.09.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.15. The company had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. Avnet’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. Sell-side analysts expect that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Avnet’s dividend payout ratio (DPR) is currently 54.47%.

Insider Activity

In related news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the sale, the chief executive officer owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Zacks Research cut Avnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 price objective on shares of Avnet in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price objective on Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Avnet in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $89.00.

Avnet Profile

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.